Reports And Data

The global niacinamide market size is expected to reach USD 785.02 Million in 2028 at a CAGR of 2.6% during the forecast period

NEW YORK CITY, NY, UNITED STATES, August 18, 2022 /EINPresswire.com/ -- The global niacinamide market size is expected to reach USD 785.02 Million in 2028 at a CAGR of 2.6% during the forecast period, according to the latest report by Reports and Data. Increasing availability of cost-effective face serums and moisturizers containing niacinamide and rising demand for feed grade niacinamide to improve animal nutrition are driving market revenue growth. Increasing use of niacinamide in cosmeceuticals to improve skin and hair health, growing number of research studies to explore the potential of niacinamide in prevention and treatment of skin cancers, and high popularity of over-the-counter anti-aging and skin brightening treatment are some other key factors expected to propel market growth over the forecast period.

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Niacinamide is an active form of vitamin B and is a crucial component of coenzymes such as Nictotinamide Adenine Dinucleotide (NAD), NADH, NADP, and NADPH. It offers multi-purpose benefits in skin care by acting as a potent conditioning agent in skin and hair care products. Niacinamide also enhances structural integrity of the skin barrier and plays a vital role in skin homeostasis by enhancing synthesis of lipid components. Niacinamide has a wrinkle-smoothing effect on ageing skin, inhibits photocarcinogenesis, and improves pigmentation disorders, which has boosted its use in personal care products and cosmeceuticals. Over recent years, extensive research & development activities have been carried out to explore the potential of niacinamide in treatment and prevention of non-melanoma cancers and this is expected to further boost revenue growth of this market going ahead.

Some Key Highlights from the Report:

Pharmaceutical grade niacinamide segment is expected to account for the largest revenue share over the forecast period, owing to growing demand for cosmeceuticals to treat skin disorders and conditions, development of robust anti-aging treatments, and prevention of vitamin B3 deficiency.

Granular segment is expected to register a robust revenue CAGR over the forecast period, attributable to increasing use of granular niacinamide in the production of vitamin B3 dietary supplements such as tablets and hard shell capsules, animal feed fortification, and cosmetics.

Pharmaceutical segment is expected to dominate in terms of revenue share over the forecast period, owing to increasing investment to accelerate research studies on potential therapeutic applications of niacinamide, higher use of niacinamide for treatment of atopic dermatitis, diabetes mellitus, acne and skin lesion, and cancer.

Europe is expected to register a steady revenue share over the forecast period, attributable to increasing demand for pharmaceutical and cosmeceutical products containing niacinamide due to higher incidence of skin cancer and growing focus on protecting skin from UV rays. Increasing use of feed grade niacinamide to combat vitamin B3 deficiency in livestock is another factor expected to contribute to revenue growth of this market in the region.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Niacinamide market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, and Lasons India.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Niacinamide Market Segmentation:

Grade Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018-2028)

Pharmaceutical Grade
Feed Grade

Form Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018-2028)

Granular
Powder
Liquid

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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